Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: KuCoin against Aevo+0.584%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$2082.082% of the position

Long on Aevo Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)−0.511%−$51 · spread now +0.584%, 7d avg +0.056%

Together, before fees−0.516%−$52 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.528% dearer against Aevo than usual: you sell high and buy low, +$53 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.009074	0.0104	pay 0.0013% / 1h	58m 42s	$210K	—	3x
Short	KuCoin PENGUUSDTM	0.009127	0.0100	get 0.0050% / 4h	1h 58m	$5.3M	$9.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee KuCoinbpOrdersPrice spread, now +0.584%Rate

Funding earned: −$0.84
Price spread: +0.584% → +0.056%: $52.81
Slippage, 4 orders: −$180.2
Fee Aevo: 8 bp × 2 orders: −$16
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$156.23
Costs to cover: 2.082%
Break-even: never at this rate

Slippage from Aevo: live order book, 50 min ago; KuCoin: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aevo live order book, 50 min ago	68.10 bp	83.7 bp −$84	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	1.64 bp	21.2 bp −$21	64.0 bp −$640	doesn't fit	doesn't fit

PENGU on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009084	+0.112%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.141%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009096	+0.248%	$639K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009124	+0.552%	$122K	$691K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009132	+0.639%	$140K	$289K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009134	+0.664%	$39.7M	$184.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009133	+0.650%	$24.2M	$43.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009135	+0.672%	$8.1M	$54.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009140	+0.727%	$19K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009135	+0.672%	$3.4M	$16.9M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PENGU_USDT	+0.0100%	4h	0.009140	+0.727%	$11.1M	$12.6M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.009127	+0.584%	$5.3M	$9.9M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009140	+0.727%	$8.7M	$13.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009134	+0.661%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009093	+0.209%	$304K	$371K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009072	−0.024%	$925K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009084	+0.112%	$481K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009082	+0.088%	$82K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009084	+0.110%	$23K	$193K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009295	+2.436%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009081	+0.077%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009109	+0.386%	$94K	$401K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009136	+0.684%	$188K	$841K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.009074	long leg	$210K	—	3x
Lighter PENGU	+0.0128%	1h	0.009136	+0.683%	$336K	$758K	8x	as long as short
01 Exchange PENGUUSD	+0.0232%	1h	0.009097	+0.253%	$208	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009086	+0.128%	$307	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0301%	1h	0.009084	+0.110%	$1K	$29K	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009088	+0.154%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0391% / S −0.0291%	1h	0.009083	+0.099%	$92K	—	100x	as long as short
dYdX PENGU-USD	+0.0539%	1h	0.009137	+0.696%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0671%	1h	0.009090	+0.171%	$339K	$2.5M	50x	as long as short
Hyperliquid PENGU	+0.0862%	1h	0.009140	+0.727%	$9.4M	$15.9M	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009185	+1.223%	$81K	$69K	50x	as long as short